The Dillon tribune., 1887-06-03
LONDON BUSINESS

-.,. ENGLISH METHOD SEEMS SEEMS A"'
The n,o''.1Go 1 TO AN AMERICAN
,,,r,ties In Bank'ns-caa''on
IN, Exercised l" opsn'n. NJ, Ne" ,,'.'n. nse" .na
.cros.ed" cheek-old Firms anu
x,merous Branches
American the methods OF con,
Tc the .o;ncss n in London seem slow ana
Quoting p,'s'"1h There is an evident desire On
antiqua.lee'fi e. many large firms to make the
Tie part o. '. - h,siness difficult instead OF
:ransacn.,,poaar n,paro " !, an outer inquiry office, at
easy. -. I mist rive your name to clerk,
which you ;ntimates by his looks that no
~ho ol.en 'n.;no favor by taking It,; the
ue .v' is passed on to an inner onro nant ~ nna
na'ne ~, e,e a probably told to take q seat IN .
you .a.,on alH room until the principals are at
Kcep,.'t l.. to see you. All this contrasts
ausa',, a.,ans,y with the accessibility OF business
,a sen il America. 49,. :. oxor,;..,, II, tho
~ !.s If nav accounts. Before you can
spenlns ss,,s =. von must first either be intro
euJ ~ h~ an old customer Or establish
dueea a..sn1ectability - and solvency. II you
YOU ,ntn ,a large bank in London and put
sep m .,orsv on the counter and ask to buy
your .a s ~ New York Berlin or Paris you
so,s.. u :. toll that they do not know you
W. w ~ only sell drafts to their regular
anu .m.r. =" ~ nr to people introduced by
I'M There is no question that the
us. uen.v vou offer il not good, but they do
not know you. ..-
STILL A STRANGER.
,-.s once, years ago, refused a draft
:, !. hank in which had q special deposit
u.money at interest, and, notwithstand.
~.I hroueht the clerk from the special
i.sost ~ department Of the bank to vouch
!. NV identity, the draft clerk told me:
an yes, YOU have u special deposit in
h.t department, but special deposits are
,eceiyel from any one without introduce
tiou, and really, since you have never
Non M introduced to the bank, you are still
n the position Of Il stranger to us, and
W. cannot sell you the draft"
Another banking custom that seems
strange to us is that open checks mot
,Icrosscd'') are paid to strangers without
;aentiGcation. If you have u check pay
,ble to "John .1ones' or order, the bank
loes not require that you be identified rs
,1ohn Jones, but you present the check,
;ndorsc your name John Jones on the
hack and receive the money in bills or gold.
But most checks are ''crossetl' ard not
svpen checks" and you cannot get the
myment Of ''crossed" check by present.
he II personally ut tho bank, no matter
how much you may be identified. 10
"cross' a check you draw two parallel
lines across the face 1T it, aud write be-
tween them either the name of the bank
with whom the person to whom the check
tmyable intends to deposit it, or simply
he terminal words "&s Co. any check so
crossed" must be depositetlin u bank for
collection and presented by u bank mes
snger for payment. This crossing q.
checks thus forms an almost absolute
safeguard against payment IL the wrong
persons. 1t might be adopted with adj
vantage in other countries.
WITH 4 DOZEN BRANCHES.
Some of the London banks have de-
pats Of 800, 100000 and $3.50, O00, 900,
bat this Is the total Of deposits of the main
bank in the "City of London" of its
dozen Or more Of branches in ':larccr
london,' and its thirty or forty country
branches, SO that 10 compare the deposits
athe largest London banks with those Of
tie largest New York banks would hardly
oe fair, unless you added to the deposits
the New York banks tho deposits of
AZ their correspondent banks.
Inc principal Of subsidiary branches is
az saffled through many other businesses.
some Of the clothing and furnishing
souses the grocers md provision dealers,
'sa merchants, fruit stores, dycrs and
.Naners, restaurants, booksellers and sta
.oaefs have from six to twenty branch
esal!lshments. Oftentimcs you find two
tafec shops on the same street belong
llg 70 the same firm. It is said that u
,nop on any Of the main thoroughfarcs in
,aa a,1uon can afford to cheat every GUS
n.' ,un'et' because the crowd Of strangers
iasslas the door will continue to furnish
NV. ~. 'lctlms year after year. 1t may be
nu. ,uas experience proves that when tho
,sa aumoer OF people passing is SO great that
,p ,1e openlng OF one or two new shops in
,s .n same street by the same firm docs not
mos msSC t1e business of the old house. But
Maay Maay olo hrlns cling to the old and often
,-os,a msy premises long after they have out
SsS"a sJ"n 'nem. Age in London is the great
lsnss >. M rcspectability. '.Oll estal,-
vasss J, business established over fifty
IN ", shon ~ " "one hundred years. is seel,
np a. saop fronts almost rs often as "To the
IL w. r"t"onizel ~ the Royal Fam.
,be ,b H. rof this reason you find some OF
:llavs a'ses1 =; 1lrms in the city in the little
sss,,s, sa,ss, lanes Or courts, where they first
''''e"'-l-ondon Cor. philadelphia Times
.,r na" Seen the Wrap Before.
art;,,es es said prominent retail dealer in
ps: to t., ol feminine adornmcnt, ''we OK.
n' ste 10 have u number Of wrans honnets